The first half of 2023 was successful for the Storent group. In Q2, despite high inflation and measures to slow it down, Storent group managed to increase its level of profitability, with EBITDA in absolute numbers being by 15% higher, reaching a rate of 34%. The net profit in the Q2 of 2023 exceeded 1 million euros, which is by 73% more compared to the same period last year. The Storent group has managed to close the first half of the year with a profit of half a million, in contrast to the losses made in the same period last year, and the EBITDA was by 13% higher, reaching 5.8 million euros, which is in line with the Group's annual plan.

The Storent group is working with great capacity on the renovation of the fleet. Older machines are being sold and replaced by modern equipment that meets the current requirements of customers. The company has almost doubled the amount of investments in the fleet, supplementing the initially planned 6 million euros with another 5 million euros for the purchase of new equipment in the next six months.

In June, Storent Holdings issued new bonds worth 10.5 million euros. Of these, bonds worth 3.3 million euros were exchanged for previous bonds. On July 19, 2023, Storent Investments canceled the previous bond program and repaid the previous bonds three months ahead of the deadline. In September 2023, Storent Holdings plans to come up with an additional issue of Storent Holdings bonds in the amount of up to 4.5 million euros, reaching the initially planned total amount of 15 million.

Baiba Onkele

Storent Holdings CFO

Mobile: + 371 29340012

E-mail: baiba.onkele@storent.com

www.storent.com